{"id":1004100963,"date":"2014-07-23T05:31:19","date_gmt":"2014-07-23T13:31:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004100963"},"modified":"2022-12-06T00:29:43","modified_gmt":"2022-12-06T08:29:43","slug":"related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\/","title":{"rendered":"Related Fund Management Grabs Fort Lauderdale Condo Hotel for $90M"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/W-FL.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004100965\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\/w-fl\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/W-FL.jpg\" data-orig-size=\"401,475\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"W FL\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/W-FL.jpg?w=401\" class=\"alignleft size-medium wp-image-1004100965\" alt=\"W FL\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/W-FL.jpg\" width=\"253\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/W-FL.jpg 401w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/W-FL.jpg?resize=253,300 253w\" sizes=\"auto, (max-width: 253px) 100vw, 253px\" \/><\/a>An affiliate of Related Fund Management, headed by current Miami Dolphins owner Stephen Ross, has acquired the W Fort Lauderdale Hotel, an iconic 346-room hotel in South Florida, from Capri Resorts L.L.C., for $90 million.<\/p>\n<p>In addition, the buyer also purchased the remaining 147 out of 171 total residential units within The Residences at W Fort Lauderdale. Only 24 one- and two-bedroom units had been sold since the condo-hotel opened in 2009.<\/p>\n<p>CBRE Hotels and CBRE\u00a0Multifamily Institutional Properties arranged the sale on behalf of the buyer. CBRE and The Ackman-Ziff Real Estate Group represented the seller.<\/p>\n<p>\u201cThis record transaction represents the city\u2019s growing cach\u00e9, as well as the scarcity of beachfront property in one of South Florida\u2019s most desirable destinations,\u201d Robert Given, CBRE\u2019s vice chairman, said in a company release.<\/p>\n<p>Located at 3101 North Bayshore D., the property consists of twin 23-story towers stretching along a full oceanfront block in Fort Lauderdale. W Fort Lauderdale and The Residences at W Fort Lauderdale is a landmark property that is home to 346 hotel units in the East Tower and 171 residences in the West Tower.<\/p>\n<p>\u201cRelated Fund Management is uniquely qualified to unlock this magnificent property\u2019s potential as not just Fort Lauderdale\u2019s leading hotel, but as a catalyst for Fort Lauderdale Beach becoming one of the world\u2019s preeminent hotel, restaurant and entertainment destinations,\u201d Robert Kaplan, Ackman-Ziff Real Estate\u2019s principal, said in the release.<\/p>\n<p>The neighboring towers sit on 4.54 acres of land and offer 20,000 square feet of meeting facilities, 5,500 square feet of outdoor event space and 15,000 square feet of commercial space.<\/p>\n<p>On the residential side, units feature nine-foot floor-to-ceiling windows, Atlantic Ocean and Intracoastal Waterway views and Bang &amp; Olufsen entertainment systems. All units have master bedrooms, which include a turquoise armchair and ottoman and a 42\u201d LCD TV; a dining room table with seating for six, and a washer and dryer. The bathrooms feature designer-stone vanity tops, premium spa bathtub and separate shower.<\/p>\n<p>The new owners are expected to keep the W Residences name in place. That hotel chain also has branches in 16 other cities around the world.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An affiliate of Related Fund Management, headed by current Miami Dolphins owner Stephen Ross, has acquired the W Fort Lauderdale Hotel, a 346-key hotel in South Florida, from Capri Resorts, for $90 million.<\/p>\n","protected":false},"author":451,"featured_media":1004100965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21783,21742],"tags":[],"class_list":["post-1004100963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Related Fund Management Grabs Fort Lauderdale Condo Hotel for $90M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Related Fund Management Grabs Fort Lauderdale Condo Hotel for $90M\" \/>\n<meta property=\"og:description\" content=\"An affiliate of Related Fund Management, headed by current Miami Dolphins owner Stephen Ross, has acquired the W Fort Lauderdale Hotel, a 346-key hotel in South Florida, from Capri Resorts, for $90 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-23T13:31:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T08:29:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/W-FL.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"401\" \/>\n\t<meta property=\"og:image:height\" content=\"475\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Related Fund Management Grabs Fort Lauderdale Condo Hotel for $90M\",\"datePublished\":\"2014-07-23T13:31:19+00:00\",\"dateModified\":\"2022-12-06T08:29:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\\\/\"},\"wordCount\":363,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/07\\\/W-FL.jpg\",\"articleSection\":[\"Hotel\",\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/related-fund-management-grabs-fort-lauderdale-condo-hotel-for-90m\\\/\",\"name\":\"Related Fund Management Grabs Fort Lauderdale Condo Hotel for $90M - 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